From People.com.cn: In May 2009, the housing transaction volumes in eight cities, including Shanghai, Beijing, Shenzhen, Nanjing, Wuhan, Hangzhou, Tianjin and Xiamen, increased by 45 to 259 percent year-on-year.
The average price has generally increased compared to the previous period, with a maximum increase rate of 11 percent. A turnover of over one trillion yuan indicates that China's real estate market has recovered.......Full Article: Source